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Lagos, Rivers, and Oyo lead Nigeria in Value Added Tax generation, highlighting regional economic dominanceLagos alone contributes over 52% of Nigeria’s non-import VAT, showcasing its commercial capital statusNew VAT revenue-sharing formula increases state allocations, benefiting high-performing VAT states significantly
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Lagos State, Rivers State and Oyo State have emerged as Nigeria’s top Value Added Tax (VAT) generating states, reinforcing the dominance of the South-West and South-South in the country’s commercial landscape.
Recent data from the Federation Account Allocation Committee (FAAC) and the National Bureau of Statistics (NBS) show that Lagos alone contributes more than half of the nation’s non-import VAT pool, while Rivers and Oyo maintain strong positions due to industrial activity, urban consumption and trade.
Lagos, Oyo and Rivers lead the race in the highest VAT pool to the federation account. Credit: PIUS EKPEI UTOMI/StringerSource:
